Owens v. Hunter

UDALL, Vice Chief Justice.

This appeal is from a judgment denying plaintiff executrix recovery for the deficiency remaining after judicial sale of collateral securing a promissory note on which the maker, Arizona Moulding Co., a corporation, was in default.

Payee on the note was the decedent, Keith Owens. While doing business as Owens Bros. Lumber in 1954 he had extended credit to the defendant Arizona Moulding Co. in connection with lumber purchases by the latter amounting to $40,000. The note of May 25, 1955 was signed by the Moulding Company’s president, defendant Jack E. Hunter, and called…